Regal Investment Advisors LLC Increases Stake in United Technologies Co. (UTX)
Regal Investment Advisors LLC lifted its holdings in United Technologies Co. (NYSE:UTX) by 620.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,561 shares of the conglomerate’s stock after acquiring an additional 15,986 shares during the quarter. Regal Investment Advisors LLC’s holdings in United Technologies were worth $2,155,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Knowledge Leaders Capital LLC bought a new position in shares of United Technologies during the 3rd quarter worth approximately $105,000. Tortoise Investment Management LLC raised its stake in shares of United Technologies by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after acquiring an additional 48 shares in the last quarter. Seven Bridges Advisors LLC bought a new position in shares of United Technologies during the 2nd quarter worth approximately $120,000. Thompson Davis & CO. Inc. raised its stake in shares of United Technologies by 750.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after acquiring an additional 953 shares in the last quarter. Finally, Winfield Associates Inc. raised its stake in shares of United Technologies by 2.9% during the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after acquiring an additional 29 shares in the last quarter. 80.07% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on UTX. Stifel Nicolaus upped their price target on shares of United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Zacks Investment Research lowered shares of United Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Goldman Sachs Group upgraded shares of United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Finally, Cowen restated a “hold” rating and set a $120.00 price target on shares of United Technologies in a research note on Tuesday, October 24th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $125.63.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.76 EPS. sell-side analysts predict that United Technologies Co. will post 6.61 earnings per share for the current fiscal year.
In other news, VP Akhil Johri sold 5,979 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the sale, the vice president now directly owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now directly owns 27,548 shares in the company, valued at $3,332,757.04. The disclosure for this sale can be found here. Insiders sold a total of 16,466 shares of company stock worth $2,019,274 over the last ninety days. Insiders own 0.16% of the company’s stock.
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United Technologies Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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